Jungheinrich shakes up leadership after profit plunge and market struggles

Jungheinrich has announced a major change in its leadership after a sharp drop in profits. Heike Wulff will leave the company’s executive board, with CEO Lars Brzoska stepping in to manage finances temporarily. The move follows a difficult first quarter marked by falling earnings and operational challenges. The supervisory board and Heike Wulff reached a mutual agreement not to extend her mandate. Her departure comes as Jungheinrich’s earnings before interest and taxes (EBIT) halved in the first three months of the year compared to 2023. A strike at the Lüneburg plant and fierce competition in the market added to the financial strain.

Lars Brzoska, the company’s CEO, will take over financial responsibilities on an interim basis until a permanent replacement is found. The leadership shift arrives as Jungheinrich’s market value has fallen by nearly 30% since late 2025, now standing at around €2.6 billion.

The Jungheinrich family retains a controlling stake in the business. Descendants of founder Friedrich Jungheinrich hold 53% of all shares through 54 million voting, non-listed ordinary shares. These are split equally between the families of the founder’s two daughters. Meanwhile, 45 million non-voting preferred shares remain in free float and are traded on the MDAX. The company now faces the task of stabilising its financial performance while searching for a new finance chief. With family control firmly in place, Jungheinrich must address both internal disruptions and external market pressures to regain investor confidence. The interim leadership under Brzoska will guide the next steps in this transition.